Policymakers 'must work with banks on eurozone debt'

17 October 2011

Banks must work alongside officials and policymakers in order to establish a credible plan to resolve the ongoing eurozone debt crisis, an expert in the sector has said.

According to Bloomberg, head of Deutsche Bank Josef Ackerman believes it will take another few months for a workable solution to be fully drawn up but insisted this will only be possible if all parties are pulling in the same direction.

Throughout this period of fiscal troubles across the continent, there has been a lack of consensus between financiers and decision makers on how best to proceed.

Indeed, recently it has been mooted that one way to deal with the problem could be to force lenders to boost capital whether they want to or not, but Mr Ackerman has dismissed this idea as "counterproductive".

Christopher Wheeler of Mediobanca told the news source: "Banks have to take positive action alongside the EU to find a solution, which is a combination of dealing with sovereigns as well as capital concerns."

By Asim Shah

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development